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ACCOUNTING
Accounting is a broader field that encompasses the entire process of financial information management within an organization. It involves the systematic recording, summarizing, analyzing, and interpreting of financial transactions to generate reports and make informed business decisions. The main objectives of accounting are to provide accurate and reliable financial information to both internal and external stakeholders, ensure compliance with relevant laws and regulations, and facilitate effective financial planning and control.
KEY ASPECTS OF ACCOUNTING INCLUDE:
Financial Reporting Budgeting and Planning
Analysis
Financial
Auditing
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BOOKKEEPING
Bookkeeping is a subset of accounting and focuses on the systematic recording and organizing of financial transactions. It involves the day-to-day task of maintaining detailed records of financial activities, such as sales, purchases, receipts, and payments. The primary purpose of bookkeeping is to create a reliable and comprehensive record of financial transactions that can serve as the basis for accurate accounting.
Recording Transactions Reconciliation Managing Accounts Generating Financial Reports
OF BOOKKEEPING INCLUDE 1 2 3 4
KEY ASPECTS
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